Abengoa Ensnared In EU's Oil Price Manipulation Probe

Law360, New York (October 7, 2013, 2:06 PM EDT) -- Abengoa SA, a leading developer of solar energy plants, has come under investigation by European Commission antitrust authorities for its possible role in a conspiracy to manipulate benchmark oil and biofuel rates used in derivatives and commodity sales, the company said in a regulatory filing Friday.

The focus of the investigation is Abengoa's role in a scheme to manipulate Platts, McGraw Hill Financial's market-on-close price assessment process, which includes prices for crude oil, refined oil products and biofuels, the company said. The company said the EC...
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